Top 10 quotes from FinTech Magazine in 2022
As the end of the year approaches, we thought we’d take a nostalgic look through all of FinTech Magazine over the past year to find our most inspiring and thought-provoking quotes from 2022. We’ve managed to pull out some advice and some interesting ways to look at the challenges and opportunities our industry faces. So here it is, our top 10 FinTech Magazine quotes of 2022.
“Consumers’ right to continue paying in cash should be protected” – In the July issue of FinTech Magazine, Udo Mueller, CEO of Paysafecard at Paysafe, says that many consumers still see cash as an important part of the payment landscape. It is too easy to see the possibility of cashless societies through the lens of young, tech-native consumers; but we know that millions are still unbanked, let alone the number of consumers who lack the technical means to take advantage of new technology. While we may dream of a cashless future, we still need to consider vulnerable consumers on the way there.
“I think part of being an entrepreneur is being a little naive and over-optimistic about speed and impact” – Daniel Kjellén, CEO of Tink, discusses his entrepreneurial experience in the December issue of FinTech Magazine. But while many founders dream big, the road to success is rarely smooth. In Kjellén’s case, he planned to go to university when he was 20, but accidentally stumbled upon his first successful business venture instead. He eventually made it to university, before leading Tink into a billion-dollar acquisition at the hands of Visa.
“Misleading greenwash has the potential to influence investment and purchase decisions, ultimately diverting meaningful change that we need” – in our September issue of FinTech Magazine, Ella Moore, senior strategist at branding agency Superunion, considers the negative impact of greenwashing. As financial institutions strive to reach net zero and do their part for the planet, there is a risk that those left behind will resort to exaggerated and unsubstantiated claims. This practice, known as greenwashing, has the potential to undermine the good work being done by other companies, as Moore explains.
“If you’re ever faced with a challenge, stop and ask yourself ‘what’s the plan?’ or ‘how do we do this?’ before jumping to a specific course of action” – George Ludviksson, CEO and co-founder of digital banking fintech Meniga, shares some thoughts on strategic decisions in the April issue of FinTech Magazine. If you have a technical background or you’re used to working in short bursts, you might get embarrassed by creating a solution and not pay enough attention to understanding the problem. Drawing up a plan of attack before jumping in can be of great benefit, says Ludviksson.
“I am inspired by the opportunity to develop the solution for today’s and tomorrow’s challenges” – Guus Franke, CEO of Axiom Partners, gives us an insight into the mind of private equity in the May issue of FinTech Magazine. For fintech entrepreneurs in particular, understanding what makes venture capitalists tick—besides profit, of course—can end up being a daunting endeavor. In reality, they are often driven by the same motivations as the fintech founders themselves and just want to be shown the right solution to a proven problem.
“All companies with a vision of going public should act like a public company long before they are one” – Romi Savova, CEO of PensionBee, has this advice for any company thinking about going public in the October issue of FinTech Magazine. PensionBee went public during the pandemic, and the timing may have been a blessing, rather than a curse, says Savova. Publicly traded companies get a lot more control than privately held companies, so before an IPO take time to prepare all parts of your business.
“The constant overload of unregulated crypto leads to daily negative headlines about cryptocurrency scams, resulting in investors being discouraged from buying and selling crypto.” – Dan Da Rosa, co-founder and CEO of Ethax, worries about the effect of crypto controversy on legitimate players in the November issue of FinTech Magazine. It’s been a pretty bad year for crypto in general, with wildly fluctuating valuations topped by the collapse of crypto exchange FTX. Regulation can accelerate change in the industry, but Da Rosa insists we must focus on restoring consumer confidence.
“We are seeing financial power shift from huge, global institutions to individuals” – Doug Ludlow, co-founder and CEO of MainStreet, has some thoughts on the democratization of finance in the February issue of FinTech Magazine. Ludlow says this shift – perhaps the biggest change in finance in 500 years – is driven by a combination of technological innovation, new business models and rapidly growing demand for more dynamic financial services.
“As competition increases, one option to differentiate propositions is to provide regulatory updates, nudges and educational content to customers” – Nicolas Vrillaud, Head of Partnerships at Mettle, believes that financial software can play a more integrated role in customers’ business in the December issue of FinTech Magazine. Businesses face budget pressures just like consumers, and finding useful ways through the current economic conditions can make or break a service provider as an accounting or tax tool.
“More than two-thirds of banks believe they will lose market share within two years if they fail to transform digitally” – Simona Covaliu, VP Risk and Compliance at Mambu, reveals the challenge the incumbents are facing in the August issue of FinTech Magazine. She refers to Mambu’s own research to find out the banks’ progress in digitizing, and the advantage that new challengers have. Despite understanding the need for digital transformation, many large banks are still struggling.
